Stock trading to resume today as usual; VAT not imposed for now

Stock brokerage firms have agreed to resume trading from today. Mr. Priya Raj Regmi, Chairman of Stock Brokers Association of Nepal (SBAN) said, “the trading will resume from today as usual without issuing VAT bill on share transaction as the government has agreed to resume share transactions without imposing VAT for now. We have not collected VAT so far, we cannot pay such tax as determined by the tax offices." Last Thursday, Inland Revenue Department (IRD) had sent instruction to brokerage companies to pay Value Added Tax (VAT) on commission since 2069 B.S. After that, stock brokers had decided to halt trading of securities in the secondary market.